Berkshire, in Rarity, to Buy Holder's Stock

Warren Buffett's Berkshire Hathaway Inc. repurchased $1.2 billion in stock from an unnamed shareholder, an unusual deal for a company that typically eschews buybacks.

Berkshire bought the shares from a "long-time shareholder," allowing it to cash in on the holdings before the federal government raises taxes on such gains. Berkshire's board signed off on the repurchase of 9,200 of Berkshire's Class A shares at $131,000...